Consolidation has been tipped once again as the future for mortgage lenders The Advertiser reported today.
Raine and Horne Financial Services general manager Gary Benzan said the flow-on effect of the US sub-prime crisis was changing the lending landscape in Australia and that mortgage providers would be forced to merge.
“What we are seeing is quite likely a process of natural selection,” he said.
According to Mr Benzan, smaller mortgage managers will be forced to review their business models and improve competitiveness to survive.
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